Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
Aldar Properties started 2025 on a strong note, delivering a 33% rise in net profit before tax to Dh2.2 billion for the first quarter of 2025.
Details of the first quarter performance were posted on the website of Abu Dhabi Securities Exchange (ADX) on Tuesday.
The company reported a net profit after tax of Dh1.9 billion, marking a 22% year-on-year (YoY) increase. Revenue for the quarter surged by 39% to Dh7.8 billion, while gross profit climbed 37% to Dh2.8 billion. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached Dh2.5 billion, up 36% from the same period last year.
“Aldar’s strong start to the year demonstrates the depth and resilience of our diversified platform, and our ability to execute and grow with discipline against a clear strategy for long-term value creation,” said Mohamed Khalifa Al Mubarak, Chairman of Aldar.
Development sales remained a major growth driver, with group sales jumping 42% to Dh8.9 billion, supported by robust demand for new launches and existing inventory. UAE sales to overseas and expatriate residents grew sharply to Dh7.4 billion, representing 87% of total UAE sales.
The company’s backlog also hit a record, reaching Dh55.7 billion at the end of March 2025, with Dh46.7 billion from the UAE. This provides strong revenue visibility for the next two to three years.
“Aldar delivered a robust financial performance in the first quarter, with continued momentum across our core businesses driving a 33% increase in net profit before tax to 2.2 billion dirhams,” said Talal Al Dhiyebi, Group Chief Executive Officer of Aldar. “Our development sales remained extremely strong, while our pipeline of new launches is on track amid continued demand from both local and international buyers.”
Meanwhile, Aldar Investment continued to deliver solid results. Revenue rose 15% YoY to Dh1.87 billion, and adjusted EBITDA increased 10% to Dh764 million. Excluding gains from disposals, adjusted EBITDA growth stood at 20%. Aldar’s assets under management (AUM) expanded to Dh46 billion.
“High occupancy and strong rental growth across the core investment portfolio underpinned solid performance, further supported by strategic acquisitions over the past two years, including Masdar City assets,” the results statement said.
The investment properties segment achieved a 96% occupancy rate, with Grade A commercial assets like the Abu Dhabi Global Market Towers and International Tower nearing full occupancy.
The group also strengthened its capital structure significantly during the quarter, raising Dh16.3 billion through a combination of a sustainability-linked revolving credit facility, hybrid capital issuances, and green sukuk, all at record-low credit spreads.
Aldar’s liquidity position remains robust, with Dh10.2 billion in free cash and Dh19.3 billion in undrawn committed credit facilities.
On the digital front, Aldar welcomed one million unique visitors to its platforms in Q1, a 20% year-on-year increase. The Live Aldar App achieved full digitisation of customer onboarding and agreement signing processes.
Looking ahead, Al Dhiyebi said: “We have full confidence that our diversified platform, robust revenue backlog, and prudent capital deployment strategy position the company well to create long-term value for our stakeholders.”
